Be like water, my friend!
- #13,625
- Oct 28, 2022 7:42am Oct 28, 2022 7:42am
EU and GU sometimes have the same pattern. {image} {image}
...
- #13,626
- Oct 28, 2022 9:47am Oct 28, 2022 9:47am
{quote} I'm thinking play against USD, on USDCAD, CAD GDP good news and USD the same as a forecast... So my thoughts about strong sell USDCAD but I'm not sure about levels now
Be like water, my friend!
- #13,627
- Oct 28, 2022 10:10am Oct 28, 2022 10:10am
- Joined Jan 2019 | Status: Trader | 2,656 Posts
{quote} Yeap not much movement
FOMC is next week. Not to mention the 4hr Wave 4 is in play. There is confusion as the trend has been up for so long. Sunday night early Monday EST I think we will finish up wave 5. Then we will experience the Daily wave 4 as we go into what is rumored to be a hawkish fed announcement. November we sell USD IMO. UJ I think will react the most. But then I am biased as I play that pair a lot. Retesting the highs before we dip to 141 area.
Don't compare your trades to others. Most often the masses are the asses
- #13,628
- Oct 28, 2022 10:53am Oct 28, 2022 10:53am
{quote} FOMC is next week. Not to mention the 4hr Wave 4 is in play. There is confusion as the trend has been up for so long. Sunday night early Monday EST I think we will finish up wave 5. Then we will experience the Daily wave 4 as we go into what is rumored to be a hawkish fed announcement. November we sell USD IMO. UJ I think will react the most. But then I am biased as I play that pair a lot. Retesting the highs before we dip to 141 area.
Be like water, my friend!
- #13,629
- Oct 28, 2022 12:14pm Oct 28, 2022 12:14pm
- Joined Jan 2019 | Status: Trader | 2,656 Posts
{quote} Hi bro, don't mind if to post your chart here please, don't really get what's wave 4 or 5.. thanks
Sorry.. I stepped away.
In Elliot wave waves 2 and 4 step outside of the channels, and wave 5 signals the end of a trend.
On the daily as you can see that has not yet happened. It is still in the channel and has never stepped out. So that means there is still room to the high side. But it will only happen AFTER we step out of the channel. This will signal the end of the Dollar bull run.
On the 4hr however it has stepped out, and on that time frame it should proceed down, with will in turn take the Daily chart out of the channel to form a Daily wave 4.
Sunday/Monday I see them pushing higher briefly to trap bulls before it turns back down and will then be confirmed by the FOMC announcement thus selling November.
The dollar is one where it is harder to see, so here. This is where I am currently trading UJ on the 15m. I got in when it left the channel at the bottom. It left the channel again for wave 4. I anticipate wave 5 coming in Sunday night or early Monday and then will sell UJ.
Don't compare your trades to others. Most often the masses are the asses
- #13,630
- Oct 28, 2022 9:46pm Oct 28, 2022 9:46pm
{quote} Sorry.. I stepped away. In Elliot wave waves 2 and 4 step outside of the channels, and wave 5 signals the end of a trend. On the daily as you can see that has not yet happened. It is still in the channel and has never stepped out. So that means there is still room to the high side. But it will only happen AFTER we step out of the channel. This will signal the end of the Dollar bull run. {image} On the 4hr however it has stepped out, and on that time frame it should proceed down, with will in turn take the Daily chart out of the channel to...
Thanks
Be like water, my friend!
- #13,631
- Oct 30, 2022 10:48am Oct 30, 2022 10:48am
- Joined Jan 2019 | Status: Trader | 2,656 Posts
{quote} That's amazing, your analysis is indeed next level to me. Thanks
My pleasure.
Don't compare your trades to others. Most often the masses are the asses
